95% loan portfolio of "Bank Standard" CJSC seriously overdue

Baku. 24 May. REPORT.AZ/ The volume of the loan portfolio of the liquidated "Bank Standard" CJSC as of May 1, 2017 amounted to AZN 741 million.

Report informs, Chairman of the Creditors Committee of the bank Akram Hasanov stated at today's meeting.

According to him, only 5% of them are valid, 95% are seriously overdue: "58% of non-performing loans are unsecured. The KPMG audit company estimated the remaining loans as extremely weak. Since October last year, the fund has collected only AZN 40.4 million on loans".

A.Hasanov also noted that requests of 45,235 creditors have been registered to date: "43,272 of them are individuals, to whom the bank has to pay AZN 156 million. In addition, another 1,963 creditors claim AZN 1,043 million from the bank. The register of creditors has not yet been approved by the court. Although the fund promptly applied to the court, the judge delays this issue".

The chairman of the committee also offered to provide creditors with information on the structure of the loan portfolio.

The meeting continues.